Analyst downgrades: HSY, DNA and GRMN


MOST NOTEWORTHY: Hershey Foods, Genentech and Garmin were today's noteworthy downgrades:
  • Bernstein downgraded Hershey Foods (NYSE: HSY) to Market Perform from Outperform, citing commodity cost pressures & slowing volume growth.
  • Thomas Weisel downgraded Genentech (NYSE: DNA) to Market Weight from Overweight after the company reported Q1 results, due to Avastin growth concerns and a lack of meaningful drivers of long-term revenue growth until 2009.
  • Oppenheimer cut Garmin (NASDAQ: GRMN) to Perform from Outperform on concerns regarding PND pricing and the company's profitability dynamics.
OTHER DOWNGRADES:
  • Blackrock (NYSE: BLK) was downgraded at Goldman to Neutral from Buy and to Market Perform from Outperform at Wachovia.
  • Baird downgraded Millennium Pharma (NASDAQ: MLNM) to Neutral from Outperform.
  • JP Morgan lowered Total SA (NYSE: TOT) to Neutral from Overweight.
Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 12, 2012: 05:30 PM

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